Richard Shelby actually said...

"These events revealed that comprehensive insurance regulation must be a part of our reform effort."

"But I believe if we enshrine--and that is where we are headed--the 'too-big-to-fail doctrine,' we are going to have problems down the road."

"I think we have got ourselves in a real jam in this country when we come up with the doctrine of 'too big to fail' and then we say, gosh, we have got to create a systemic regulator to deal with this."

"If an insurance company is involved in derivatives on the national, international scale, how could States regulate them?"